BASTIELLE PARTICIPATIONS : revenue, balance sheet and financial ratios

In 2021, BASTIELLE PARTICIPATIONS achieves revenue of 202 k€. Over the period 2016-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +114.1%. Vs 2020, growth of +14% (177 k€ -> 202 k€). After deducting consumption (0 €), gross margin stands at 202 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 107 €, representing 0.1% of revenue. Warning negative scissor effect: despite revenue change (+14%), EBITDA varies by -97%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 102 k€, i.e. 50.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 28%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 75%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 50.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 364.29. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 4164.5x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 61 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 169 days. Excellent situation: suppliers finance 108 days of the operating cycle (retail model). Overall, WCR represents 72 days of revenue, i.e. 41 k€ to permanently finance. Over 2016-2021, WCR increased by +246%, requiring additional financing.

Based on 173 transactions of similar company sales (all years), the value of BASTIELLE PARTICIPATIONS is estimated at 95 399 € (range 35 030€ - 247 476€). With an EBITDA of 107€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.38x (conservative valuation). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.